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Australian Financial Complaints Authority

Yesterday

The Macquarie Group Ltd. logo atop the company’s headquarters in Sydney, Australia, on Wednesday, June 18, 2025.

Macquarie among super platforms urged to pay up for $1b collapse

Insignia boss Scott Hartley says financial advisers should not foot the compensation bill following the collapse of First Guardian and Shield Master Trust.

April

CBA customer wanted to buy $30k in bitcoin. The bank wouldn’t let him

Listen to recordings of Andrew Broadbent’s calls with CBA, which refused to let him make a transfer to buy $30,000 in bitcoin.

March

UniSuper called for a standardisation of death certificate information across all states and territories to ease the administrative burden on funds and members

Industry funds lobby for death benefits overhaul

ART, UniSuper and Cbus want the government to reform processes as the corporate watchdog prepares to release a report revealing widespread failures.

Silk, directors singled out in AusSuper death benefits failure

As ASIC chairman Joe Longo called big super the “poster child” for governance failures, the watchdog launched a case in the Federal Court against the biggest provider.

December 2024

ASIC raised major concerns about how insurance companies handle complaints.

ASIC slams insurers for gaping holes in complaints systems

“We are extremely disappointed with what we found here,” ASIC commissioner Alan Kirkland said, putting IAG, QBE and Suncorp on notice.

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October 2024

Nine

The super system has to brace itself for a tsunami of retirees

Are trustees doing enough to prepare and provide the information, resources, transparency, services and support that retirees expect?

June 2024

More customers complained about Cbus than any other fund, AFCA data showed.

Cbus tops list for super complaints

Cbus also paid $1 million in compensation claims to customers in the first half of the financial year.

Sarah Abood of the Financial Advice Association Australia.

The ghost of Dixon Advisory haunts planning industry

Financial planners are up in arms about being forced to pay out tens of millions of dollars in compensation to victims of the conflict-riddled wealth management firm.

April 2024

How this organisation prevented burnout for staff

A surge in complaints to the Australian Financial Complaints Authority led to a rethink of hiring and leave policies, adding 500 new staff to cope with the workload.

February 2024

Lismore was flooded heavily in 2022.

‘Radio silence, on hold for hours’: How insurers treat their watchdog

Justin Untersteiner helps run the Australian Financial Complaints Authority. But that didn’t stop him getting “radio silence for months” and being kept “generally on hold for 2½ hours” when he tried to claim.

January 2024

The nation’s property market is about halfway through a $350 billion wave of home loans moving from fixed to more expensive variable interest rates

Family forced to sell three of four properties as rates rise

Property investors are being lured back by rising rents and capital gains. But borrowing too much can cause a debacle.

Courts are widening the powers of those authorised to protect the assets.

Father left with just $4000 after trusted daughter nabs life savings

Banks are trying to clamp down on unlawful use of powers of attorney as state governments disagree on common standards. But there are ways to safeguard yourself.

November 2023

The government had set aside some $250 million for a financial victims compensation scheme in the October budget, although the claims are expected to be higher.

Big banks, insurers on the hook to pay Dixon Advisory compo claims

The government has set aside $250 million to help victims of misconduct. But the collapsed financial firm’s clients are out of pocket by significantly more.

Police released these images of Pusey on Friday.

Porsche driver who filmed dying police wanted on new warrants

Police are seeking help to find Richard Pusey, who was banned from the financial services industry after recording the dying moments of four officers hit by a truck after pulling him over.

October 2023

NAB customer Liam Garrety is unhappy with his treatment by the bank.

NAB backflips on home loan payments

NAB abandoned a pledge to increase monthly mortgage repayments on the 12-month “anniversary” of variable loans, after rapid interest rate rises caught it off guard.

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July 2023

Sam Bankman-Fried.

No local FTX reboot as ASIC cancels its Australian licence

The local arm of Sam Bankman-Fried’s collapsed crypto exchange is unlikely to re-emerge.

November 2022

Richard Pusey has been found guilty of sending offensive images of the crash.

Porsche driver sent offensive photos to financial services watchdog

Real estate agent Richard Pusey has been found guilty of sending graphic images of an Eastern Freeway crash to the Australian Financial Complaints Authority.

August 2022

ASIC logo

ASIC threatens to punish super funds for ignoring member complaints

ASIC is threatening action after identifying “significant” issues with how super funds handle member complaints.

July 2022

Morgans has been under the microscope about advice.

Morgans tries to fend off AFCA probes into ex-adviser

Is a complaint too old? National stockbroker Morgans is taking on a federal complaints authority about its jurisdiction.

March 2022

CHOICE CEO Alan Kirkland says BNPL creates healthy competition for credit cards, but should be regulated the same way.

Regulate buy now, pay later or consumers will suffer, CHOICE warns

Customers are at risk of falling prey to unscrupulous lending practices from the proliferation of providers, the consumer protection group says.

Original URL: https://www.afr.com/topic/afca-1n3j